Munich Re beats profit forecast despite Turkey quake

Frankfurt, Germany (AFP) Feb 27, 2024

German reinsurance giant Munich Re said Tuesday its 2023 profit topped expectations despite costly claims for the earthquake in Turkey. The group, which covers insurance firms against their risks, reported a net profit of 4.6 billion euros ($5 billion), surpassing an initial forecast of four billion euros. Revenues climbed by 4.5 percent to 57.9 billion euros, driven by growth across the